The Commercial leases law was published this week in the official gazette, more than one year after it was ratified by the parliament. The new law allows for the termination of a commercial lease under two scenarios:

-       Four years after the law’s enactment, as long as the landlord requests a gradual rent increase in accordance with legal provisions.

-       Two years if the landlord waives the right to increase the rent.

Finally the law stipulates that rents will be progressively adjusted to reach 8% of the rental property’s value by the end of old rent contract.